It’s hard to find marketers who are not involved in media buying, but do you have a way to make these buys correlate with your top line revenue? When you understand how these two factors influence each other, your organization can optimize your spending and achieve better results with your advertising campaigns.
What happens when your advertisements show up on a website with hateful or offensive messaging? While you may have purchased a package that includes many sites without picking any in particular, they still reflect on your brand.
Those deals may be tempting when they offer a lot of views or clicks for a relatively low price, but the indirect damage could cost you in the long run. You can’t ensure brand equity, and you could end up with a public relations disaster on your hands.
Avoid controversy or showing up on sites that go against your brand’s values. Transparent media buys give you the information you need to be confident that your message is going out on channels that align with your company’s mission and beliefs.
Younger buyer generations, such as Millennials, place a lot of importance on purchasing from brands that share their values. When you have a mismatch on your media buys, you generate distrust in this demographic and hurt your bottom line. When you have a media buying strategy in place that has transparency at its core, you can remain consistent in your value statement and win over these important demographics.
Paying a percentage of your conversion value to acquire qualified users gives you the opportunity to maximize profits while minimizing costs. When you look for qualified users who share similar characteristics to your current customer base, you focus your resources on people who are likely to convert.
While larger traffic and lead numbers may sound appealing at first, especially when you need to justify media buying budgets to upper management, it doesn’t produce the best revenue results. Qualified users have smaller numbers, but your conversion rate is stronger and the overall cost of acquisition goes down.
This optimization process is helpful when you want to scale your media buying after finding the right combination of websites, audience demographics and other advertising factors. You can maintain a consistent growth rate by building on your current initiatives, rather than figuring out everything from scratch for a new campaign.
Before you invest in new media buys, make sure that they will provide a good result for your top line revenue. A few changes here and there can make a significant difference in your ROI and your customer lifetime value.
Performance, The Winning Curve